First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 2,336.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,942 shares of the financial services provider's stock after purchasing an additional 9,534 shares during the quarter. GAMMA Investing LLC's holdings in First Interstate BancSystem were worth $285,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Wood Tarver Financial Group LLC bought a new position in shares of First Interstate BancSystem in the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of First Interstate BancSystem in the 4th quarter valued at about $69,000. Covestor Ltd grew its stake in shares of First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after buying an additional 510 shares during the period. Sterling Capital Management LLC boosted its stake in First Interstate BancSystem by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 2,231 shares during the last quarter. Finally, GTS Securities LLC acquired a new position in First Interstate BancSystem during the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock traded up $0.16 during trading on Friday, hitting $26.37. 1,467,668 shares of the company's stock were exchanged, compared to its average volume of 697,937. First Interstate BancSystem, Inc. has a 52-week low of $22.95 and a 52-week high of $36.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 0.77. The business has a 50-day simple moving average of $26.99 and a 200-day simple moving average of $29.49. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 12.50 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The firm had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio is currently 89.10%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FIBK. Barclays lowered their price target on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company cut their target price on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of "Hold" and an average price target of $35.00.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.